Brewbound Insiders are digging into Boston Beer’s latest updates to its c-suite’s compensation, including a 120% cash bonus for CEO Dave Burwick and +3-4% raises for other executives. These enhanced salaries follow a banner year for the company’s Twisted Tea brand, but sluggish sales for nearly every other brand in Boston Beer’s portfolio, which includes Truly Hard Seltzer, Angry Orchard, Samuel Adams and Dogfish Head.

Insiders are also:

• Learning about a blow to the movement to permit self-distribution and franchise law reform in Georgia;
• Hearing about Asahi’s appetite for M&A in North America;
• And checking out new spirits-based, RTD cocktails from Three Floyds (all newsletter exclusive stories).

Insiders also have access to the Brewbound Newsletter Archive, including previous newsletter-exclusive Insider content.

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All of Boston Beer Company’s named executive officers (NEO) except for CEO Dave Burwick will receive salary raises in 2024, according to a U.S. Securities and Exchange Commision (SEC) Form 8-K filed on February 16. 

Burwick “opted not to be considered for a base salary increase” in 2024, maintaining a salary of $860,503. He received a +3% increase in 2023, below the 5% increase first promised to him when hired in 2019. He forwent his raise in 2022. 

CFO Diego Reynoso received the largest percentage increase: +4%, to $624,000. Reynoso was named CFO and treasurer in July, effective September 5. 

All other NEOs received +3% salary increases for 2024, effective March 4:

• Chief accounting officer and VP of finance Matthew Murphy (new base salary of $393,756);
• Chief supply chain officer Philip Hodges ($633,450);
• Chief marketing officer Lesya Lysyj ($545,432).

The filing also detailed 2023 cash bonuses, equity awards and a new retirement provision. Insiders can read all the details in the link.

Boston Beer and Anheuser-Busch InBev (A-B) will both share their full-year and Q4 2023 earnings results this week: Boston Beer after the market closes on Tuesday, followed by A-B Thursday morning. Look out for coverage of the financials and calls with investors.

And on this week’s Brewbound Podcast, Jess and Zoe chat with 3 Tier Beverages consultants Stephanie Roatis and Mary Mills about the latest installment of 3 Up 3 Down with 3 Tier Beverages, a quarterly report exclusive for Brewbound Insiders.

Check out the report before the episode goes live later this week.

Iowa’s Big Grove Brewery has acquired a majority stake in THC- and CBD-infused sparkling water brand Climbing Kites. Brewbound broke the news last week, including insights from Big Grove co-founder and CEO Matt Swift, Lua Brewing co-founder Scott Selx and Climbing Kites CEO David Moore on how the deal came about and the strategy moving forward. 

Swift told Brewbound: “They had a first mover advantage that we thought was very important, and to this day is still very important, and we believe in their ability to keep innovating too. For us, could Big Grove have created their THC seltzer? Sure. But I didn’t think that there was enough soul in that, and we wanted to create something that had a little more depth.”

Insiders can dive deeper into the story. 

Brewbound Insiders also have access to two exclusive features: the 3 Up 3 Down quarterly insights series with 3 Tier Beverages and the weekly A Round With … Q&A series. 

The latest installment of 3 Up 3 Down examines regional cider’s gains in the convenience channel, hard seltzer rationalization and much more. 

And last week’s A Round With caught up with Damon Patton, co-founder and CEO of Moor’s Brewing Company. The Chicago craft brewery is fresh off an appearance on the Bet on Black pitch competition series. Patton shares how national exposure is helping the brewery, plans for western expansion and the evolution of his vision for the brewery.

Miss last week’s Brewbound Podcast? Catch up with our marketing conversation with Firestone Walker’s Dustin Hinz and Hannah Barnett. 

The craft c-suite changes keep coming. Two more execs are leaving New Belgium Brewing in early March. Chief sales officer Michael Corrigan is leaving after more than 15 years to join Keg1, one of New Belgium’s “largest distributor partners,” and chief ESG officer Katie Wallace is leaving after nearly two decades. They follow CEO Steve Fechheimer, who departed last summer; CMO Shaun Belongie took over that role.

In other craft news:

• New Jersey’s Flying Fish was sold off in an auction;
• The former owner of Atwater Brewery has acquired a 90% stake in Lansing Brewing Company;
• Two former Boston Beer execs have launched Hero95, a Michelob Ultra challenge brand;
• And a regulator dismissed BrewDog’s complaint against the British Broadcasting Corporation (BBC).

Also last week, Brewbound reporter Zoe Licata profiled Massachusetts-based Stormalong Cider and detailed the decade-old cidery’s strategy for 2024 and beyond.

Last week was also a heavy Molson Coors news week, including word that the company is using “current employees” to staff its Fort Worth, Texas, brewery, where union workers are on strike.

Brewbound Insiders can also read about the failed attempt to bar cold beer sales in Tennessee, an analysis of bev-alc’s post-COVID hangover and Captain Morgan’s foray into FMBs.

Miss this weekend’s Insider news roundup? Get your fix and all the GIFs.

We’re taking this show on the road. The Brewbound Podcast On-Location is heading to industry gatherings across the country, starting March 12-14 with the California Craft Beer Summit in Sacramento, hosted by the California Craft Brewers Association. 

Look for Brewbound Podcast hosts Jess Infante and Justin Kendall conducting interviews with industry leaders on the show floor. 

Reach out to podcast@brewbound.com if you’d like to connect at the event. Also, look for more Brewbound Podcast On-Location announcements in the near future.